COG Financial Services (COG) H1 2026 earnings summary

Executive summary

• Revenue for 1H26 was $196.9m, up 8% year-over-year, driven by organic growth and acquisitions, with underlying EBITDA to shareholders rising 14% to $22.3m and underlying NPATA after NCI up 12% to $13.6m.

• Statutory profit after tax attributable to members increased 17% year-over-year to $9.9m.

• Interim dividend declared at 3.5cps, a 17% increase over the prior year, fully franked, with DRP suspended.

• Major acquisitions included Easifleet and increased stakes in Fleet Network and Access Capital, supporting segment growth.

Financial highlights

• Revenue from continuing operations grew 9% year-over-year to $198.5m.

• Net assets financed reached $4.5bn, up 7% year-over-year.

• EBITDA margin remained resilient at 16.1% despite margin compression.

• Cash and cash equivalents increased by $34.1m to $183.4m.

• Basic and diluted EPS from continuing operations rose to 4.80 cents.

Outlook and guidance

• Continued organic growth expected in Salary Packaging, supported by government EV incentives and FBT exemption.

• Ongoing focus on strategic acquisitions and IT investment, especially in broker aggregation and salary packaging.

• Corporate debt to EBITDA ratio of 1:1, with $30m debt capacity available for future acquisitions.